PIDC is moving forward with plans to develop a 40-acre modern biotechnology manufacturing campus two years after beginning its search for a partner, writes John George for the Philadelphia Business Journal.
The public-private economic development organization is currently evaluating proposals from a select group of developers for the project, which PIDC believes could support thousands of new jobs and further boost the region as a life sciences hub.
“The current economic environment presents some challenges to our original timeframe, but we continue to work to make this vision a reality,” said PIDC spokesman Kevin Lessard.
The goal is to transform the Lower Schuylkill riverfront area into a “vibrant, 21st-century industrial campus” that features an array of businesses and jobs.
In June 2022, PIDC issued a request for qualifications from potential partners to turn the riverfront land in Southwest Philadelphia into up to 1 million square feet of life sciences manufacturing space. It estimated that it would take a more than $1 billion investment.
PIDC is marketing the development opportunity site as the “Lower Schuylkill Biotech Campus” and offering exclusive development rights across the distinct “North” and “South” riverfront sites, with each one encompassing about 20 acres.
It would become a key part of the city’s Lower Schuylkill Innovation District.
Read more about the plans to grow Philly’s biotech scene at the Philadelphia Business Journal.
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